Equity Residential (EQR) and Avalon Bay just announced a dreaded mega merger. Sure, they may have rebranded themselves as Vivmark, but this massive Real Estate Investment Trust (REIT) is packing a behemoth punch; the deal is worth a whopping $69 billion.
What could possibly go wrong?
Back in May, we spoke with LA-based researcher and organizer, Alex Ferrer about the history of the corporate-landlord structure. Our housing team was concerned about the potential for an EQR/Avalon merger at the time…
Unfortunately, our fears have come to fruition. But Vivmark does not stop our ability to fight. Instead, this merger changes the organizing terrain.
To understand these changes, we spoke to Housing Team Lead at Debt Collective: René Moya. Not only is René a leader in the Los Angeles Tenants Union (LATU), but he is also the former campaign director for the Proposition 21 campaign in 2020 — a ballot initiative in 2020 to strengthen rent control in California — and has worked extensively on tenant rights, local rent control campaigns, Pandemic-era emergency protections, and social housing. René also attended Dartmouth College and the University of London – School of Oriental & African Studies.
There’s obviously so much more to learn, discuss and build solidarity around.
Join Debt Collective’s housing team for our “Newest Biggest Landlord” Townhall.
Hear expert analysis about how the merger will affect tenants and the housing market overall. This is a great opportunity for tenants who live across EQR and AvalonBay buildings to talk strategy and learn how we can fight back.
See you there!
